IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2020 dated 20 April 2020
By Insertion of Regulation 40C relating to exclusion of lockdown period for computation of timeline of CIRP Posted On : June 01, 2020
By virtue of Regulation 40C, the period of lockdown imposed by the Central Government due to the outbreak of COVID-19 shall not be counted for the purposes of computation of timeline of CIRP and such lockdown period shall not be applicable for the performance of any CIRP related activity which could not be completed due to the lockdown.